Maximise Your Tax Savings with a Depreciation Schedule

According to the ATO, only a qualified professional, such as a quantity surveyor, can accurately estimate construction costs and prepare a compliant depreciation schedule. Our team of quantity surveyors are fully certified to do these report for both residential and commercial investment property.

The cost of a depreciation schedule can vary depending on the size and location of your property. However, the fee you pay for a property depreciation schedule is 100% tax-deductible. The savings you will unlock in the first year alone often exceed the cost of the report many times over, making it a highly worthwhile investment.

Once we have all the necessary information, our streamlined process ensures you receive your ATO-compliant report in an average of just 5 business days. We understand the urgency, especially during tax time, and we prioritise efficiency without compromising on accuracy. 

Yes, the age of your property is a key factor, but it doesn’t mean you can’t claim anything. The ATO has different rules for properties built before and after certain dates. While newer properties generally offer more deductions, an older property can still be eligible for significant claims. You can still claim depreciation on all new plant and equipment items you install for the tenants’ usage, and if the property has had any renovations, those capital works can also be claimed

Division 40 refers to “Plant & Equipment” assets, which are the removable fixtures and fittings within the property (e.g., carpets, blinds, appliances). Division 43, or “Capital Works Deductions” relates to the structural components of the building itself (e.g., concrete, brickwork, roofing). Our report provides a 40-year forecast for both divisions, ensuring you claim every possible deduction. Learn more on div 40 vs div 43 here.

Yes! We can look back at previous years you may have missed. Our reports can be prepared retrospectively, allowing you to amend previous tax returns and claim lost deductions from up to two years ago. This ensures you recover any tax savings you might have missed out on. 

It depends on the nature of the renovation. For minor cosmetic upgrades, like replacing a hot water system or new carpets, we can easily update your existing schedule to reflect the new assets and ensure you continue to claim the maximum deductions. However, for a major structural renovation, it’s best to get a new schedule prepared. In either case, we recommend consulting with us before and after any renovation to ensure all new assets are correctly identified and included in your depreciation calculations.

While your accountant plays a crucial role in managing your overall tax strategy, the ATO requires a qualified quantity surveyor to prepare a depreciation schedule. Think of us as partners in your financial success: we provide the detailed, ATO-compliant report, and your accountant uses this information to process your claims, ensuring you maximise your deductions legally and effectively.